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Farmland Partners - >>> 838-Acre Nebraska Farm Added to Farmland Partners Portfolio


BusinessWire

June 2, 2022


https://finance.yahoo.com/news/838-acre-nebraska-farm-added-111000124.html


DENVER, June 02, 2022--(BUSINESS WIRE)--Farmland Partners Inc. (NYSE: FPI) (the "Company" or "FPI") on Wednesday completed its seventh farm acquisition of the year when it purchased 838 acres of Nebraska farmland for $11.6 million.

The row crop farm is the Company’s first in Hamilton County, which sits in the middle of a fertile seed corn production area and is known for good soils and water availability. The farm consists of nine individual tracts with several improvements, including irrigation, a grain storage system, and ample equipment storage. The acquisition also encompassed a house, office building, and heated shop.

"This is a turn-key operation and is among the nicest properties in our portfolio," said FPI Chairman and CEO Paul Pittman. "We have an excellent tenant in place and are looking forward to a bright future in Hamilton County."

FPI now owns 31 farms in Nebraska, spanning 7,216 acres. It is the nation’s largest publicly traded farmland REIT by U.S. acreage.

About Farmland Partners Inc.

Farmland Partners Inc. is an internally managed real estate company that owns and seeks to acquire high-quality North American farmland and makes loans to farmers secured by farm real estate. As of the date of this release, the Company owns and/or manages nearly 185,000 acres in 18 states, including Alabama, Arkansas, California, Colorado, Florida, Georgia, Illinois, Indiana, Iowa, Kansas, Louisiana, Michigan, Mississippi, Missouri, Nebraska, North Carolina, South Carolina, and Virginia. We have approximately 26 crop types and more than 100 tenants. The Company elected to be taxed as a real estate investment trust, or REIT, for U.S. federal income tax purposes, commencing with the taxable year ended December 31, 2014.

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